i-flex solutions pte ltd to Acquire Capco's Singapore Consulting Practice

i-flex Solutions Ltd on January 03, 2007 has announced that its Singapore headquartered subsidiary, i-flex solutions pte ltd, has entered into a definitive agreement to acquire the Singapore subsidiary of Capco - The Capital Markets Company Pte Ltd.

This acquisition will strengthen i-flex Consulting’s ability to provide high end consulting to banks in the Asia Pacific region. The expertise and service offerings of Capco Singapore’s consulting business align well with those of i-flex Consulting. The combined i-flex - Capco team provides a compelling pool of expertise to assist banks in business transformation, management of large technology implementations and addressing risk and compliance requirements.

"The acquisition demonstrates i-flex Consulting’s commitment to the region. It is in line with our strategic initiative to address business transformation requirements of top tier financial institutions as it combines Capco’s consulting strengths in APAC and i-flex Consulting’s experience in delivering solutions for the BFSI (banking, financial services and insurance) segment globally. Our ability to provide a complete solution to existing clients and prospects is significantly enhanced with the local knowledge and expertise that the Capco team brings" says Vijay Sharma, Senior Vice President i-flex Consulting.

"We are witnessing strong business growth as several banks in the Asia-Pacific region, including Japan, continue to undertake business transformation through large-scale technology and consulting investments in next-generation core-processing platforms, such as FLEXCUBE®, and upgrade their risk and compliance practices through end-to- end BASEL II Credit and Operational Risk Management solutions, such as Reveleus™. The unique alignment of capabilities resulting from this acquisition further strengthens i-flex’s leadership position of seamless harmonization of high-end consulting, with a leading-edge solutions portfolio and a wide range of technical capabilities" says Kishore Kapoor, CEO i-flex solutions pte ltd.

Source : Equity Bulls

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